Wade HollonDirector, Financial Planning & Analysis
As the director of financial planning and analysis for a holding company with an aggressive growth path, Wade had the foresight to follow Wayne Gretzky’s advice about skating to where the puck will be, not where it has been. Currently, his company is a small startup holding company with limited operating resources. A company that, at first glance, would be fine simply using spreadsheets for basic budgeting and management reporting.
But Wade’s company has big plans—an intelligent and diverse acquisition strategy. Wade quickly recognized the need for a foundational financial platform that could make acquisition integration easier—especially when acquiring companies with different general ledger, reporting and other data sources. And while it’s not always easy getting the budget dollars approved to invest in back office software, Wade worked with his senior executive team to make the investment in a financial performance management platform, IBM Cognos TM1, now, rather than when they were in the midst of executing on their growth plans.
Wade turned to Revelwood and led his company in an aggressive fast track implementation and adoption of TM1. The initial R&D session was held in late September and by October they were testing the data and providing preliminary management reporting. The following year’s budgeting and actuals will all be completed and reported using TM1.
Wade feels bringing in TM1 to the company is one of his biggest accomplishments. Now, instead of having a small team frustrated by being in “Excel Hell,” he has a few power users who were up and running on TM1 nearly “out of the gate” with usable, timely information.
As the company continues to grow, Wade is confident they will be able to quickly and easily integrate data from various platforms in order to perform sophisticated budgeting, analysis and planning activities, regardless of what systems the acquired companies use. From there his team and his company are poised to streamline integration, providing further opportunities to make sound decisions and further future investment.
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